Regulation 15 - Functions and obligations of the KRA
Securities and Exchange Board of India {KYC (Know Your Client) Registration Agency} Regulations, 2011 Chapter III FUNCTIONS AND OBLIGATIONS OF KRA AND INTERMEDIARY
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KYC Registration Agency obligations: secure interoperability and mandated retention to protect and validate client KYC records. Regulation 15 requires a KRA to implement interoperable electronic connectivity and secure data transmission with other KRAs and intermediaries, store, ... Summary
KYC Registration Agency obligations: secure interoperability and mandated retention to protect and validate client KYC records.
Regulation 15 requires a KRA to implement interoperable electronic connectivity and secure data transmission with other KRAs and intermediaries, store, safeguard, retrieve and retain client KYC documents in electronic form for the statutory retention period, prevent loss or tampering through backups and system integrity measures, and ensure intermediaries access records only for clients who approach them. The KRA must also perform independent validation of uploaded KYC records, maintain an audit trail of changes, appoint a compliance officer, conduct periodic audits of systems and controls, and disseminate client updates to all subscribing intermediaries.
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